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Private enterprises boosting offshore investments Hung Le By Hung Le - The Saigon Times Daily HCMC – A lot of private enterprises in Vietnam are shoring up offshore investment activity, particularly in regional markets, to make the most of material sources and tap into opportunities presented by these growing markets. Hoang Anh Gia Lai (HAGL) is a case in point. Chairman of the group Doan Nguyen Duc said it is pouring much money into breeding cows imported from Australia at its farms in Laos and Cambodia in addition to those in Vietnam. The firm headquartered in the Central Highlands province of Gia Lai looks set to increase its cow herd to 100,000 head this year and 200,000 head in the following year to meet rising demand for quality beef on the domestic market. This is the first fruit of the cow farming and milk processing project, which is worth VND11-12 trillion and was kickstarted last year by HAGL, Nutifood and Vissan. Vietnam Dairy Products Company (Vinamilk) is … [Read more...] about Private enterprises boosting offshore investments

Prime Minister meets with Indochina Capital CEO PM Nguyen Xuan Phuc told Indochina Capital CEO Peter Raymond Ryder at a reception in Hanoi on September 9 that he wishes the US group will continue to grow and attain business successes in Vietnam. The PM said Vietnam's macro-economy is improving, and his Government is committed to creating the best possible conditions for foreign investors to do business in the country. He noted that real estate, especially resort property, is currently an important sphere for investment in Vietnam, as the country hopes to attract twice as many as the current number of foreign tourists in the next five years. Hence, demand for hotels and resorts will rise sharply, he said. The PM also expressed the belief that the Trans-Pacific Partnership (TPP) agreement will provide the member countries, including Vietnam and the US, with success opportunities. For his part, Ryder wished Vietnam prosperity in the time ahead, adding that the group will work to … [Read more...] about BUSINESS IN BRIEF 11/9

Petrol prices drop over 600 VND per litre It was the fourth fuel price cut after five hikes in a row and the eighth cut since the beginning of this year. The decision also reduced the prices of diesel by 637 VND and kerosene and mazut by over 370 VND per litre. RON 92 and E5 are now sold at no more than 14,699 VND and 14,250 VND per litre respectively, while the ceiling prices of diesel 0.05S and kerosene are 11,661 VND and 10,269 VND per litre. The ministries said the global price of fuel during the last 15 days to August 4 was 47.02 USD per barrel, down nearly 3 USD per barrel while the price of diesel 0.05S reduced by approximately 5 USD per barrel. The base fuel prices will be adjusted by the two ministries every 15 days, depending on the fluctuation of world oil and gas prices since the previous announcement and should be in accordance with the government’s Decree 83/2014/ND-CP, and Circular 39/2014/TTLT-BCT-BTC. Laos welcomes Vietnam’s projects on goods … [Read more...] about BUSINESS IN BRIEF 5/8